Eurogroup chief Jeroen Dijsselbloem on Friday said he refused to step down over his comment that southern European countries blew their money on "drinks and women".

"Certainly not," Dijsselbloem said in Malta when questioned whether he would resign over a controversy that has refused to die down.

Last month's gaffe by Dijsselbloem, who is also Dutch finance minister, and the resulting backlash exposed simmering north-south tensions within the European Union's single currency zone.

The flare-up has weakened Dijsselbloem, already reeling after his party lost heavily in last month's Dutch election, a result that puts his future as finance minister and Eurogroup chief in jeopardy.

Dijsselbloem, 51, holds one of Europe's most influential positions, chairing the meetings of finance ministers from the 19-country eurozone. 

Dijsselbloem told reporters he "brought the issue up myself" at Friday's meeting in Malta, "saying that I regret that my choice of words has upset and insulted people because it was never my intention to insult people."

"No ministers took the floor after that... no one called for my resignation," he said.

In an interview with Germany's Frankfurter Allgemeine Zeitung on March 20, Dijsselbloem said that while coming to the aid of eurozone partners was important, "I can't spend all my money on drinks and women and then ask for help."

The words caused an uproar in the southern European countries of Portugal, Greece and Cyprus that have all received eurozone bailouts in recent years, with Spain's banks also receiving support.

Greek Finance Minister Euclid Tsakalotos, also in Malta, offered a vigorous defense of Dijsselbloem, who plays a leading role in Greece's massive bailout negotiations.

"I think when somebody says that he has hurt people and that he never intended to insult the people, people should be willing to draw a line on that," Tsakalotos said.

"He was honest... and I think that this issue should be finished," he said.

source: AFP